The TSX Venture Exchange (TSXV) has announced amendments (the Amendments) to its Corporate Finance Manual (the Manual) to reduce the frequency by which directors, officers, promoters, and other insiders (individuals)  have to submit a Form 2A (The Personal Information Form or PIF). The Amendments are effective immediately.

Together, the TSXV is Amending: i) the PIF, ii) the Form 2C1- Declaration (the Declaration), and (iii) sections 1.7 and 4.8 of Policy 2.3,  Listing Procedures (Policy 2.3), and iv) section 7.7 (a) of Policy 3.2 – Filing Requirements and Continuous Disclosure of the Manual.

The goal of the Amendments is to reduce the regulatory burden on issuers by reducing the time and cost involved with individuals having to complete PIFs.

Previously under the Manual, if an individual who had submitted a PIF within 36 months (3 years) and was required to submit a second PIF, they would be allowed to submit a Declaration in place of the PIF. Under the Amendments, the TSXV will accept a Declaration in place of a PIF if the individual has submitted a PIF within the last 60 months (5 years). The Declaration asks the individual to confirm the accuracy of the information on the PIF that the individual had most recently submitted.

The full text of the amended  Policy 2.3 and Policy 3.2 is available for download from the website of the TSXV.

For more information, please call Barbara Hendrickson at BAX Securities Law (416) 601 -1004.

This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.